On 3 acres in Lexington
LEXINGTON, Ky. (June 22, 2017) — The Kentucky Horse Park Commission and the United States Equestrian Federation, Inc. have signed a 40-year ground lease on three acres of land, which includes the grant of an option to extend the lease for an additional 40 years at the conclusion of the initial term.
The lease allows US Equestrian to construct a two-story, approximately 35,000 square-foot office building and include surrounding parking, landscaping and signage. The national governing body for equestrian sports in the U.S., US Equestrian currently leases office space inside a building located at the park owned by USA Equestrian Trust, Inc., with a term expiring at the end of 2019.
“As the governing body that oversees the internationally competitive United States Equestrian Team, including at the Olympic Games, US Equestrian is the anchor for many other industry-related businesses at the park. We are elated that they have made this long-term commitment with the Kentucky Horse Park,” said Don Parkinson, secretary of the Tourism, Arts and Heritage Cabinet. “This long-term partnership with US Equestrian reflects and strengthens Kentucky’s dedication not only to our equine industry but also to the diverse and growing segments of horse sport.”
Ownership of the new building is expected to generate cost savings to US Equestrian which can be used to further the organization’s other programs for its 100,000 members across the U.S.
“Given the park’s outstanding facilities and US Equestrian’s position as the governing body for horse sport in the United States, it is mutually beneficial to have this organization headquartered at the park’s National Horse Center,” said Tandy Patrick, chairperson of the Kentucky Horse Park Commission. “The park is home to a growing calendar of diverse horse shows and competitions throughout the year, and is the home of more than 30 national, regional and state equine organizations, most of whom fall under the jurisdiction of US Equestrian, and benefit from its advocacy for the betterment of the sport horse industry.”
All permits, construction approval and funding for the construction will be paid for by US Equestrian. The Tourism, Arts, & Heritage Cabinet, which oversees the Kentucky Horse Park, and the Kentucky Horse Park Commission will review and approve the exterior design of the new building prior to construction.